Amounts and Terms of the Loan. Section 1.1. The Loan. Lender agrees, on the terms and conditions hereinafter set forth, to make a loan (“Loan”) to the Borrower in an amount not to exceed Thirteen Million Dollars ($13,000,000.00) (“Maximum Loan Amount”).
Amounts and Terms of the Loan. Section 2.01. The Commitments and the Loans.
Amounts and Terms of the Loan. (a) The Lender agrees to lend to the Borrower an amount up to FIVE MILLION Dollars (US$5,000,000.00). The loan amount is not to exceed 80% of the direct and indirect hard and soft construction costs, including furniture, fixtures and equipment, organization and start-up costs, excluding land cost. The Borrower acknowledges that this in an IBF facility and as such, according to the Board of Governors of the Federal Reserve System of the United States, that extensions of credit by international banking facilities, this loan may be used only to finance operations outside the United States of the Borrower or of the Borrower's affiliated outside the United States. The Borrower indicates its understanding of this provision by initialing the blank which follows this paragraph. Initial: /s/ M.M. ------------------------------
(b) To effect the Disbursement, the Lender shall transfer the amount of the Disbursement in United States Dollars to the account of PriceSmart El Salvador, S.A. de C.V. number 0-000000-000. In addition to those conditions precedent to the obligation of the Lender to make the Disbursement set forth in Sections 3.01 and 4.01 below, on or before the Date of the Disbursement, the Borrower shall deliver to the Lender twenty (20) promissory notes substantially in the form of Annex A hereto (the "Notes") executed by an authorized signatory of the Borrower. The Lender shall have no obligation hereunder to effect the Disbursement if it shall not have previously received such Notes, as executed by the Borrower, at the principal offices of Citibank, N.A., San Xxxxxxxx xxxxxx.
Amounts and Terms of the Loan. (a) The Lender agrees to lend to the Borrower an amount up to THREE MILLION FIVE HUNDRED THOUSAND Dollars (US$3,500,000.00). The loan amount is not to exceed 80% of the direct and indirect hard and soft construction costs, including furniture, fixtures and equipment, organization and start-up costs, excluding land cost. The Borrower acknowledges that this in an IBF facility and as such, according to the Board of Governors of the Federal Reserve System of the United States, that extensions of credit by international banking facilities, this loan may be used only to finance operations outside the United States of the Borrower or of the Borrower's affiliated outside the United States. The Borrower indicates its understanding of this provision by initialling the blank which follows this paragraph.
Amounts and Terms of the Loan. 2.02 Borrowing Mechanics 2.03 Prepayment 2.04 Interest; Repayment 2.05 Conversion 2.06 Fees and Overriding Royalty Interests 2.07 Computation of Fees and Interest 2.08 Payments by Borrowers 2.09 Increased Costs and Reduced Return 2.10 Taxes 2.11 Sharing of Payments ARTICLE III. SECURITY 3.01 The Security 3.02 Agreement to Deliver Security Documents 3.03 Perfection and Protection of Security Interests and Liens 3.04 Offset. ARTICLE IV. CONDITIONS PRECEDENT 4.01 Conditions Precedent ARTICLE V.
Amounts and Terms of the Loan. Lender agrees, based upon the terms and conditions of this Agreement, as well as the various documents to be executed in connection herewith and the representations, warranties, covenants and undertakings of the Borrower herein, to make a secured loan to the Borrower in the amount of $460,000.00 plus interest, as herein provided.
Amounts and Terms of the Loan. SECTION 2.01. The Loan.
(a) The Lender agrees, on the terms and conditions hereinafter set forth, to make a single loan (the "LOAN") to the Borrower on the Issue Date in an amount of U.S.$ 150,000,000 (the "LOAN AMOUNT"). The Lender shall, on the Issue Date, credit the Borrower's Account with the Loan Amount. In the case of Section 2.01(b), the Lender shall credit the Borrower's Account with the amount in Argentine pesos equivalent to the Loan Amount at the exchange rate agreed upon with the Borrower in a letter dated as of the date hereof (the "EXCHANGE RATE"). In both cases, the Loan Amount credited in the Borrower's Account shall be the Loan Amount minus the aggregate amount of fees, commissions and expenses due on the Issue Date pursuant to the Additional Transaction Documents. The Borrower acknowledges and agrees that, notwithstanding anything herein to the contrary, the principal amount of the Loan owed as of the Issue Date shall be the Loan Amount. The commitment of the Lender to make the Loan hereunder shall terminate on the Issue Date immediately upon the making of the Loan under this Section 2.01. Amounts borrowed under this Section 2.01 and repaid or prepaid may not be reborrowed.
(b) The Loan shall be denominated in U.S. dollars. Notwithstanding anything herein to the contrary, if there is any regulatory or legal impediment to the Loan being disbursed in U.S. dollars as determined by the Lender, the Lender shall, on the Issue Date, credit the account designated by the Borrower with an amount equivalent to the amount in Argentine pesos resulting from converting the amount of the Loan in U.S. dollars to Argentine pesos at the Exchange Rate.
Amounts and Terms of the Loan. SECTION 2.1. The Loan SECTION 2.2. Making the Loan SECTION 2.3. Fees SECTION 2.4. Use of Proceeds SECTION 2.5. Repayment SECTION 2.6. Interest SECTION 2.7. Interest Rate and Period Determination
Amounts and Terms of the Loan. Section 2.01 . The Loan. 13 Section 2.02 . The Note. . 13 Section 2.03 . Accommodation Fee. 13 Section 2.04 . Payment of Principal and Interest. 13 Section 2.05 . Maximum Interest. 14 Section 2.06 . Prepayments of the Loan; Excess Cash Payment. 15 Section 2.07 . Increased Costs. 16 Section 2.08 . Payments and Computations. 17 Section 2.09 . Taxes. 17 ARTICLE 3 CONDITIONS OF LENDING Section 3.01 . Conditions Precedent to Closing. 18
Amounts and Terms of the Loan. Section 2.01. The Commitments and the Loans........................... 12 Section 2.02. Making the Loans........................................ 12 Section 2.03. Repayments.............................................. 13 Section 2.04.
